'Financiële stabiliteit eurozone is in het belang van de hele EU' (en)
President Dalia Grybauskaitė i met with the Dutch Finance Minister and President of the Eurogroup, Jeroen Dijsselbloem i, to discuss the economic situation in the euro area countries, the financial agenda of the Lithuanian Presidency i of the EU Council, and Lithuania's preparations to introduce the euro.
The Eurogroup is composed of finance ministers of the EU member states that have adopted the euro as their currency. It deals with the most relevant euro-related issues. This group is important for ensuring financial stability and promoting economic growth in Europe, and adopts recommendations for the adoption of the euro in the member states.
"The economic situation in the euro area countries remains complicated: economic recovery is slow and the level of unemployment is high. Therefore, concerted efforts by all are needed to build a stable and growing economy in Europe. Financial stability is in the interest of the entire EU," the President said.
The President underlined that financial stability was integral to the credibility of the banking sector. The Banking Union, which is currently in the make, will help carry out a more effective supervision of the banks and protect the taxpayers from additional costs. The Lithuanian Presidency will work towards reaching an agreement on the single bank resolution mechanism this year.
The President also emphasized that it was crucial to continue structural reforms in all EU member states to ensure sustainable public finances and boost the EU's competitiveness.
Among the other points of discussion were Lithuania's preparations to join the eurozone i. Lithuania's euro aspirations commit us to observe financial discipline and pursue responsible fiscal policies, the President noted.
Finance ministers from 17 countries of the eurozone, comprising the Eurogroup, together with their colleagues from other EU member states are participating in the Meeting of Economic and Financial Affairs Council (ECOFIN) in Vilnius.